x Abu Dhabi, UAESunday 23 July 2017

Brahma Group targets UAE investment in Indian property

India’s Brahma Group, an engineering and construction services firm, is seeking to tap the UAE market for investment in Indian property.

India’s Brahma Group, an asset management firm, is seeking to tap the UAE market for investment in Indian property.

Bhawna Dhawan, Brahma’s deputy general manager for sales and marketing, yesterday said it was expanding its business into the UAE because it considers there is “a lot of potential” in its market.

“We are … looking at forming strategic alliances with key property marketing and brokerage firms, along with increasing [our] presence and visibility through roadshows,” she said.

The weakness of the Indian rupee meant it was an attractive time for non-resident Indians to invest, she said.

India’s property market has become increasingly challenging amid its slowing economy and the glut of unsold homes.

In a list of the top 25 property investment destinations in Asia-Pacific this year, Mumbai and Bangalore respectively slipped to 23rd and 20th positions from 20th and 19th positions last year, a report this week by the Urban Land Institute and PricewaterhouseCoopers shows.

It cites India’s economic woes, an uncertain currency outlook, and an investment environment widely perceived to be unfriendly to international investors.

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